EOS-based Mythical Games Platform Raises $16 Million in Series A Funding Round

  • EOS-based Mythical Games platform has raised $16 million in a Series A funding round.
  • The EOS platform has received $325 million from previous funding rounds led by Galaxy Digital and Block.one.

Mythical Games, the developer of “video game engines for player-owned economies”, has completed a venture capital-backed $16 million Series A funding round.

Building Games On Blockchains

The funds will reportedly be used to create games for mobile and desktop computer users. Notably, Mythical Games’ platform will be developed on the EOS.io blockchain network, and the company is planning to announce the first set of games it will be launching.

Mythical’s management team consists of several members who have been actively involved in the gaming industry. John Linden, a computer engineering graduate from the University of Kansas, is managing Mythical’s key operations as the firm’s CEO.

Linden has previously worked at Activision, a large 40-year-old California-based video game publisher. The other C-level executives at Mythical include its chief compliance officer, Jamie Jackson (who also previously worked at Activision).

1 Million Waves To Be Rewarded To Game Developers

Notably, billionaire investor Michael Novogratz’s Galaxy Digital has made substantial investments into the ongoing development of the EOS platform. Launched in January of 2018, the $325 million fund has drawn investments from members of Block.one (the company that developed EOS) and Novogratz’s “full-service” crypto merchant bank, Galaxy Digital.

As CryptoGlobe reported in October, Chainbreakers, a virtual reality game, is being developed on the Ethereum-based Decentraland platform. Chainbreakers is based on a fictional story - which focuses on the notable events that took place in Ancient Greece.

As covered, the blockchain and smart contract-enabled, Waves platform, has announced the launch of a 1 million Waves (appr. $2 million) reward pool for developers who will build games on its network.

Gaming And Gambling Apps Lead The Way

Sasha Ivanov, the founder and CEO of Waves, had said:

I believe that the gaming sector will be an enthusiastic adopter of blockchain, and will drive its widespread use. Given the mutual opportunity here, we are more than ready to reward developers for the effort they make in implementing their projects within [the] Waves ecosystem.

Waves Platform CEO

In addition to gaming, online betting platforms are increasingly being developed on blockchain-based platforms.

In early November, CryptoGlobe reported that TronDice, a TRON-based gaming DApp (decentralized application), had paid out almost $5 million in TRX tokens. The TronDice DApp allows users to select a number between 2 and 100, and the game’s smart contract uses a random number generator to produce a number between 1 and 100. Rewards in TRX are distributed to users according to their choices

Staking-as-a-Service Startup Raises $2 Million, Set to Expand Its Team and Services

InfStones, a proof-of-stake (PoS) cloud solutions provider that claims to handle the world’s largest PoS stake, has recently announced it raised $2 million in seed funding, and the launch of its blockchain cloud service platform “Infinity Stones.”

According to a press release shared with CryptoGlobe, the firm’s goal is to bridge financial institutions and institutional investors with PoS chains, by “offering customers a simpler and safer service for the hosting of their mainnet projects and nodes.”

The funds raised from venture capital firms like DHVC and Plug & Play Ventures, known for investing in the early stages of PayPal and Dropbox, will help it achieve its goal. They’ll reportedly be used to expand InfStones’ team and services to additional proof-of-stake chains, beyond the 50 it already supports.

Jonathan Shi, a co-founder of InfStones, stated:

We’re witnessing an increase in interest in PoS coins, and InfStones has been at the forefront by being the first to provide reliable support on our cloud infrastructure, called Infinity Stones, designed for the blockchain to support the latest mainnet launches.

Currently, the staking-as-a-service startup supports some of the top PoS networks in the cryptocurrency space, including EOS, TRON, and Ontology. Shi noted that its clients see staking as a viable way to generate passive income, and as such have staked over $500 million worth of cryptocurrencies with the firm.

InfStone’s new Infinity Stones platform is reportedly being opened to institutional clients who are looking to launch a mainnet or node on a “secure and easy-to-use cloud storage platform.” The firm, launched in 2018, is also set to introduce a “one-click” solution to launch a PoS node on Infinity Stones, which is set to make deploying a node “as easy as launching a WordPress blog.”

Currently, the startup is a block producer in nine PoS blockchains. It aggregates token holders’ votes to participate in the production of blocks to receive mining rewards, and distributes these to holders after taking a commission.